SocialPlay USA has identified a number of companies that are developing products and services across the FinTech spectrum. The Company has entered into initial agreements to pursue the ongoing development of unique business models and products that fit within SocialPlay’s strategic growth vision.
Spot&Pay is a mobile payment application that is used in connection with tthird-party QR codes that have been generated for specific uses; i.e. individual consumer products, specific services or group of services offered to the general public, B2B product and service offerings, monetary donations to charitable organizations, and quick and easy bill payments on recurring monthly accounts.
QR codes allow consumers a quick, simple, and paperless method of making purchases, donating to their favorite charity, and paying bills. The process relies on setting up a Spot&Pay mobile payment account attached to a credit card or direct debit account and then simply scanning a QR code with a mobile device for a particular product or service the consumer wishes to purchase. The Spot&Pay application will instantly facilitate the order and purchase of the product associated with the QR code and pay for it from the pre-designated method of payment set up by the user.
Friendship Socks is a company that offers a unique line of designer socks, proudly manufactured in the USA, and markets its products through its quickly expanding online community. The company leverages social media to connect people more substantially through the gifting of a simple pair of socks, something everyone can use and appreciate every day.
The Friendship Socks process is very easy and involves a customer purchasing a pair of socks for themselves through the website, while at the same time also gifting a free pair to a friend of their choosing. This free pair gift purchase is embedded within a message that can be sent through any social media platform the buyer wishes. The friend then clicks on the link provided in the social media message, enters their shipping information, and waits for their socks to arrive in the mail. The recipient is now part of the Friendship Socks community and can then purchase a pair to surprise one of their own friends and so on and so on. Friendship Socks refers to this as “Pairing it Forward”, helping connect friends from across the street to around the world. The result is strengthened connections and stronger friendship bonds.
The company offers a one-time purchase as well as a subscription service, where every month the customer receives a new pair of socks and gets to choose a new friend to send a surprise pair to. This provides Friendship Socks the unique opportunity to connect with multiple customers through one initial purchase. Those familiar with the success of Dollar Shave Club (sold to Unilever for a reported $1 Billion) will recognize the potential that Friendship Socks has in creating a large and dedicated consumer following. This increased social media engagement creates exponentially expanding customer acquisitions while automatically increasing recurring sales revenue.